NFT projects thrive even as OpenSea trading volumes take a hit
Monthly volumes on OpenSea have declined in comparison with January’s record-breaking start, but select NFT collections are still seeing their floor prices soar. Despite a number of attempted vampire attacks, nonfungible tokens (NFTs) continue to have a strong run on OpenSea, with the number of unique users and transactions increasing. However, the NFT market’s overall volume is falling behind last month’s figure of nearly $3 billion. While there are NFT projects readying to hit the secondary market, it seems the sector, as a whole, is navigating the next move regarding utility and the....
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NFT sale volumes are a mere shadow of what they were in previous months, but renewed interest in Bored Ape Yacht Club NFTs and a new Lil Baby Ape Club derivative project could be reversing the trend. Crypto Twitter nonfungible token (NFT) influencers have been relatively quiet over the past two weeks as trading volumes on OpenSea dropped to a three-month low and analysts critical of the emerging sector say a bear market is at hand. While overall sale volumes do pale in comparison to previous months, certain projects have seen a significant surge in the last week.Data from Dune Analytics....
Data shows that OpenSea has generated more than $700 million in sales so far this year putting the NFT marketplace on track for another record month. NFT trading volumes on OpenSea are surging in January amid a renewed speculative frenzy on Yuga Labs’ Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC). According to data posted by “rchen8” on Dune Analytics, OpenSea has generated more than $700 million worth of trading volume since the start of 2022, with Jan. 3 being the biggest day of the year with a whopping $255.8 million worth of 24-hour volume.While popular onlookers as Wu....
NFT bear market, confirmed. At least according to the latest OpenSea daily volumes, which hit a 15-month low on yesterday’s trading volume. Let’s evaluate where things stand in this bear market, and what lies ahead for NFTs as we close out the year. OpenSea’s Recent Headwinds Sundays can be notoriously slow in crypto (for a […]
Despite pullback, trading volumes on decentralized exchanges are still significantly higher than Q2. The trading volume on decentralized exchanges, or DEXs, reached $42.6 billion during Q3 2020, marking an increase of 1,132% on the previous quarter, according to a recent industry report from TokenInsight.However, October saw figures pull back a little from September highs, as Bitcoin (BTC) prices started to pump, re-capturing traders' attention following the previous few months' decentralized finance, or DeFi, boom.Volumes in July alone reached $5 billion, which was up one third on the....
On September 15, the top non-fungible token (NFT) marketplace, Opensea, revealed that an Opensea executive profited from insider trading. “Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” Opensea informed the public on Wednesday. Opensea did not name the employee, but social media posts accused an Opensea executive of using “secret wallets” on Tuesday. Opensea Team Says NFT Market Operators Are ‘Incredibly Disappointed’ Opensea is the leading....